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The station first signed on the air on January 26, 2001; it originally served as the market's affiliate of The WB. The station was founded by the Equity Broadcasting Corporation. Prior to the station's sign-on, southwestern Missouri residents could only receive WB network programs on cable and satellite through Chicago-based superstation WGN, which carried WB programming nationally from the network's January 11, 1995 launch; the network was unavailable in the market between the period when WGN dropped WB programming in October 1999[1][2] and KWBM launched. The station formerly operated two low-powertranslator stations: KBBL-LP (channel 56) in Springfield (which adopted the calls on July 14, 2006; coincidentally, the KBBL calls were used fictionally as the radio station in the fictional town of Springfield on the animated series The Simpsons), and KNJE-LP (channel 58) in Aurora.

On December 8, 2008, Equity Media Holdings filed for Chapter 11bankruptcy protection; it then began to sell off its television station properties. KWBM was sold to at auction to religious broadcaster Daystar (through its Word of God Fellowship subsidiary) in early 2009; the MyNetworkTV affiliation later moved to upstart station KRBK (channel 49; now a Fox affiliate) when that station launched on August 1, 2009.

Daystar leases the second and third subchannels of KWBM to Koplar Communications to extend the signal coverage of Fox affiliate KRBK, which does not cover Springfield proper with their main signal licensed to Osage Beach, Missouri. What would usually be channel 31.2 instead remaps as a virtual channel to KRBK's channel 49.1 via PSIP. KWBM also transmits KRBK's MeTV subchannel as 49.2.[8]

Because it was granted an original construction permit after the Federal Communications Commission (FCC) finalized the DTV allotment plan on April 21, 1997, [9] the station did not receive a companion channel for its digital signal. Instead, at the end of the digital conversion period for full-power television stations, On June 12, 2009, KWBM would have been required to turn off its analog signal and turn on its digital signal (called a "flash-cut") almost one month later on July 3.

KBBL-LP and KNJE-LP, as low-power stations, were not required to cease analog transmissions upon the 2009 transition deadline, but were required to move their channel positions as their channel allocations were among the high band UHF channels (52-69) that were removed from broadcasting use as a result of the transition. These stations were not sold to Daystar as part of its purchase of KWBM. The FCC cancelled KNJE-LP's license on August 6, 2010 and deleted the KNJE-LP call sign from its database; KBBL is currently dark with a construction permit to build digital transmitter facilities on UHF channel 24.